1. China rate cut effect

How will Asia markets wake up Monday morning to not unexpected news that China has cut interest rates for the third time in six months? The move comes came weaker-than-expected trade figures on Friday and continuing signs of weakness in other parts of the economy.

2. Heavy week for Singapore corporate results

Heavyweights scheduled to release their quarterly results this week include Golden Agri-Resources, City Developments, ST Engineering, Neptune Orient Lines, Singtel, Singapore Airlines, Global Logistic Properties, Genting Singapore, Olam and StarHub.

Also, look out for April retail sales figures on Friday, SRX Property private residential resale figures on Tuesday and data on the rental market on Wednesday.

3. Europe comes back from the dead zone

The eurozone announces its first-quarter gross domestic product figures on Wednesday. Recent data have indicated that the economy has emerged from a long period of zombie stagnation, helped by a weakening euro and a boost to confidence from the European Central Bank's launch of a massive stimulus programme. Analysts at Credit Suisse are forecasting an expansion of 0.5 per cent in the three-month period, up from the 0.3 per cent rate recorded in the fourth quarter of 2014, the Wall Street Journal reported.

This would mean that for the first time in many years, the eurozone would have performed not only better, but far better than the US, which almost certainly suffered a mild economic contraction in January-March.

4. Greece's dicing with default drags on

Eurogroup finance ministers will meet on Monday to discuss once more Greece's progress/non-progress in implementing economic reforms in exchange for bailout funds as it gets dangerously close to running out of cash.

Almost no one, though, expects a breakthrough on Monday to the months-long standoff between Athens and the rest of the eurozone.

5. Post-election Britain

The Bank of England will announce its interest rate policy on Monday and publish its latest forecasts for growth and inflation on Wednesday, just days after Prime Minister David Cameron swept back to power with a narrow majority that took everyone by surprise.

But no change in policy is expected. If anything, a platform of rapid fiscal retrenchment planned by the Conservative government has analysts now predicting that record low interest rates may stay near zero well into next year to offset the pain, Reuters reported.